State to Oversee Miami’s Finances

The state of Florida will oversee Miami’s budgets, contractual agreements and revenue estimates as part of its effort to help the city resolve a $68-million budget shortfall. City commissioners voted unanimously to grant the state the broad oversight powers. The city of 350,000 became the first in Florida to have such a relationship with the state. Mayor Joe Carollo asked the state for help late last month and Gov. Lawton Chiles appointed the oversight board, which has already begun examining Miami’s problems. The financial crisis was discovered this fall after several top city officials were snared in a federal kickback probe.